Third bank failure this year
Seems like banks going bust is getting pretty popular these days...
The Ohio Superintendent of Financial Institutions' closure of Miami Valley, which had $86.7 million in total assets and $76 million in total deposits, marks the third FDIC-insured bank to fail this year.
Re: Third bank failure this year
wait until this starts to go parabolic !
I would also add that we are really only seeing failures of 'small and simple' institutions so far. This doesn't meant that the 'big and complex' banks are in any better shape !!! It only means that the 'big and complex' banks have structured enough divisions / conduits / counterparty contracts to 'obscure' their true debt to asset ratios !!!
If you're looking for an example, you might research MacQuarie bank